Financial data management software provider Alveo recently announced an integration that will add ESG content powered by Morningstar Sustainalytics, Alveo said in a news release.
The collaboration combines the two firms’ respective data and cloud data management capabilities, aiming to provide customers with integrated solutions to fast-forward the integration of Sustainalytics’ content into clients’ workflows, the news release said.
“Financial services firms across the board face new reporting requirements,” Mark Hepsworth, CEO of Alveo, said in the release. “Asset managers and asset owners have to report portfolio ESG metrics under [European regulations] and banks will have to report on their loan book composition using the EU Taxonomy. For this they require granular ESG information at the entity level but also at the instrument level as the space of green finance and green, social and sustainability (GSS) bonds is rapidly developing. Sustainalytics’ ESG content is needed not only for regulatory reporting, but across customer decision-making workflows including product development, asset allocation and client reporting.”